Walleye Capital LLC Acquires 15,538 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Walleye Capital LLC grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 220.9% during the third quarter, Holdings Channel reports. The firm owned 22,571 shares of the company’s stock after purchasing an additional 15,538 shares during the period. Walleye Capital LLC’s holdings in Churchill Downs were worth $3,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Churchill Downs in the first quarter worth about $235,000. GAMMA Investing LLC lifted its holdings in Churchill Downs by 72.4% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after purchasing an additional 257 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Churchill Downs by 259.3% during the second quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock worth $2,772,000 after purchasing an additional 14,331 shares during the period. Park Avenue Securities LLC grew its holdings in Churchill Downs by 24.1% during the second quarter. Park Avenue Securities LLC now owns 10,418 shares of the company’s stock valued at $1,454,000 after purchasing an additional 2,024 shares during the last quarter. Finally, CWM LLC raised its position in shares of Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $142.78 on Tuesday. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.94 and a beta of 0.96. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. The business has a fifty day simple moving average of $139.18 and a 200 day simple moving average of $138.17. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same period last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.409 per share. This represents a yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s payout ratio is presently 7.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CHDN shares. Mizuho decreased their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Truist Financial reissued a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $155.00 in a report on Monday, August 12th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.